The Chinese Ministry¹ of Commerce has provided more details to demonstrate the great growth potential in U.S. exports to China.

 

中国商务部列出更多细节以展示美国商品出口中国的巨大发展潜力。

 

A research report from the ministry says China's total imports are expected to reach 8 trillion U.S. dollars in the next five years.

 

In particular, China would like to increase imports of agricultural products such as soybeans and cotton.

 

China will also speed up negotiations² on terms regarding traceability, inspection³ and quarantine for U.S. beef to enter China, benefiting 6 million American farmers.

 

Agricultural products are among the leading U.S. exports to China, a sector⁴ in which the U.S. has maintained a trade surplus with China.

 

After Canada, China is the largest export market for U.S. agricultural products.

 

China purchased over 83 million tonnes of soybeans in 2016, with imports from the United States accounting⁵ for about 40 percent, while U.S. cotton took up 29 percent of China's total cotton imports.

 

The report also pledged to increase imports of advanced manufactured goods such as aircraft, integrated circuits and machine tools from the United States.

 

China is the largest export market for U.S. aircraft and the second largest export market for U.S. integrated circuits. In 2016, approximately 15 percent of integrated circuits and 25 percent of Boeing aircraft in the U.S. were sold to China.

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